Question 1

Why are vending machine prices often higher than those in a retail store?

Accepted Answer

Vending machine maintenance,op...

Question 2

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n) __________.

Accepted Answer

A)  limited-line store
B)  single-line store
C)  intertype outlet
D)  general merchandise store
E)  scrambled merchandise storeF) None of the above
G) B) and E)

Question 3

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Accepted Answer

A)  rack jobbers
B)  drop shippers
C)  cash and carry wholesalers
D)  truck jobbers
E)  general merchandise wholesalersF) All of the above
G) D) and E)

Question 4

Which of the following statements BEST DESCRIBES the key difference between merchant wholesalers and agents and brokers?

Accepted Answer

A)  Merchant wholesalers don't perform all channel functions whereas agents and brokers do.
B)  Agents and brokers only deal with consumer channels.
C)  Agents and brokers make their profits based on the sales of merchandise they own,while merchant wholesalers make profits based on fees paid for their services.
D)  Merchant wholesalers take title to merchandise whereas agents and brokers do not.
E)  Agents and brokers take title to merchandise whereas merchant wholesalers do not.F) B) and C)
G) A) and E)

Question 5

What is the value of retailing for consumers and the economy?

Accepted Answer

Retailing is an important marketing acti...

Question 6

The retailing mix includes all of the following EXCEPT:

Accepted Answer

A)  merchandise.
B)  target market.
C)  retail pricing.
D)  store location.
E)  retail communication.F) All of the above
G) None of the above

Question 7

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 9,000 stores,a worldwide network of 12,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Accepted Answer

A)  time
B)  possession
C)  place
D)  form
E)  performanceF) C) and E)
G) A) and E)

Question 8

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  accelerated development
E)  early growthF) A) and B)
G) B) and D)

Question 9

In 2012,online sales accounted for __________ of all retail sales.

Accepted Answer

A)  1 percent
B)  2 percent
C)  5 percent
D)  10 percent
E)  20 percentF) B) and E)
G) A) and D)

Question 10

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Accepted Answer

A)  dual ownership
B)  industry consortium
C)  retailing cooperative
D)  multi-national cartel
E)  corporate chainF) A) and B)
G) A) and E)

Question 11

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Accepted Answer

A)  dysfunctional competition
B)  mixed-line merchandising
C)  multi-product marketing
D)  intertype competition
E)  dual distributionF) None of the above
G) A) and D)

Question 12

Rack jobbers refer to wholesalers who

Accepted Answer

A)  furnish the shelves that display merchandise in retail stores,perform all channel functions,and sell on consignment to retailers.
B)  own the merchandise they sell and have retailers store it in their warehouses.
C)  own the merchandise they sell but do not physically handle,stock,or deliver it.
D)  have a small warehouse from which they stock their trucks for distribution to retailers.
E)  work for several producers and carry noncompetitive,complementary merchandise in an exclusive territory.F) A) and B)
G) A) and C)

Question 13

The three basic types of contractual systems are:

Accepted Answer

A)  retailer-sponsored cooperatives,wholesaler-sponsored voluntary chains,and franchises.
B)  dual ownership agreements,industry consortiums,and non-binding cooperatives.
C)  wholesaler-sponsored voluntary chains,non-binding cooperatives,and franchises.
D)  dual ownership agreements,industry consortiums,and multi-national cartels.
E)  non-binding,binding,and in perpetuity.F) A) and B)
G) A) and C)

Question 14

The Mall of America is an example of which type of setting for a store location?

Accepted Answer

A)  central business district
B)  regional shopping center
C)  community shopping center
D)  strip mall
E)  power centerF) B) and D)
G) A) and C)

Question 15

Because consumers often use price as an indicator of product quality,what decision factor becomes important in this situation?

Accepted Answer

A)  perceived quality
B)  product benefits
C)  convenience
D)  brand name of the product
E)  maintained priceF) C) and E)
G) D) and E)

Question 16

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Accepted Answer

Merchant wholesalers are classified eith...

Question 17

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at locations with the best price; (2) participating in an online auction; (3) going directly to online malls;and (4)

Accepted Answer

A)  paying dues to become a member of an online discount service.
B)  becoming a secret shopper.
C)  participating in a buying cooperative.
D)  using direct selling.
E)  becoming a member of a research group that evaluates new products.F) C) and E)
G) B) and C)

Question 18

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Accepted Answer

A)  a switch to online catalogs and direct-to-customer e-mail advertisements.
B)  a focus on proven rather than prospective customers.
C)  the use of thinner,lightweight paper products.
D)  the banning of "junk" mail by a growing number of environmentally-concerned communities.
E)  a resurgence in non-automated telemarketing.F) A) and D)
G) A) and C)

Question 19

Which of the following retailers would best fit in "B" shown in Figure 16-8 above?

Accepted Answer

A)  Kmart
B)  Payless ShoeSource
C)  Bloomingdales department store
D)  7-Eleven
E)  Lamborghini automobile dealerF) None of the above
G) C) and E)

Question 20

Sam's Club and Costco are examples of __________.

Accepted Answer

A)  supercenters
B)  hypermarkets
C)  warehouse clubs
D)  single-price retailers
E)  outlet storesF) B) and C)
G) None of the above

Exam 16: Retailing and Wholesaling

Online retail purchases by consumers can be the result of several very different approaches,which include: (1) using a shopping "bot" to search for a product at locations with the best price; (2) participating in an online auction; (3) going directly to online malls;and (4)

Correct AnswerverifiedShow Answer

The three basic types of contractual systems are:

Correct AnswerverifiedShow Answer

In 2012,online sales accounted for __________ of all retail sales.

Correct AnswerverifiedShow Answer

There are three general forms of retail ownership: contractual system,independent retailer,and __________.

Correct AnswerverifiedShow Answer

The Mall of America is an example of which type of setting for a store location?

Correct AnswerverifiedShow Answer

Fresh-cut flowers that only used to be available from florists can now be purchased at neighborhood supermarkets.This is an example of __________.

Correct AnswerverifiedShow Answer

Why are vending machine prices often higher than those in a retail store?

Correct AnswerverifiedVending machine maintenance,op...View AnswerShow Answer

Because consumers often use price as an indicator of product quality,what decision factor becomes important in this situation?

Correct AnswerverifiedShow Answer

Bakery items,dairy products,and meat that are sold for cash in their original packages are traditionally sold by which type of wholesaler?

Correct AnswerverifiedShow Answer

Rack jobbers refer to wholesalers who

Correct AnswerverifiedShow Answer

The retailing mix includes all of the following EXCEPT:

Correct AnswerverifiedShow Answer

Higher paper costs,increased postage rates,the growing interest in do-not-mail legislation,and concern for "green" mailings have resulted in

Correct AnswerverifiedShow Answer

Sam's Club and Costco are examples of __________.

Correct AnswerverifiedShow Answer

Which of the following statements BEST DESCRIBES the key difference between merchant wholesalers and agents and brokers?

Correct AnswerverifiedShow Answer

Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.

Correct AnswerverifiedMerchant wholesalers are classified eith...View AnswerShow Answer

Victoria's Secret,a nationwide chain,carries great depth in women's lingerie-and almost no other products.Victoria's Secret is an example of a(n) __________.

Correct AnswerverifiedShow Answer

What is the value of retailing for consumers and the economy?

Correct AnswerverifiedRetailing is an important marketing acti...View AnswerShow Answer

Wells Fargo is one of the best-run banks in the United States.It reaches retail customers through 9,000 stores,a worldwide network of 12,000 ATMs,and its online banking service.Which utility does Wells Fargo best provide?

Correct AnswerverifiedShow Answer

Which of the following retailers would best fit in "B" shown in Figure 16-8 above?

Correct AnswerverifiedShow Answer

According to the retail life cycle,in which stage would market share rise gradually,although profits may be low because of start-up costs?

Correct AnswerverifiedShow Answer

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Vending machine maintenance,op...
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Merchant wholesalers are classified eith...
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Retailing is an important marketing acti...
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Correct Answer
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Correct Answer
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Correct Answer
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